Replies to post #1454 on Petro Rio S.A. ADR fka HRPTY

[bullionbaby]

Pancontinental recovering the losses that I mentioned here a couple of days back. Up 9% on very high volume. The second highest of 2013...

Let the Moose loose.

Edit to add the reason...

Tullow Oil have farmed in to Namibia. Nice!!

http://www.proactiveinvestors.com.au/companies/news/47670/pancontinental-oil-and-gas-nabs-tullow-oil-as-partner-for-namibia-offshore-oil-exploration-47670.html

Pancontinental Oil and Gas’ (ASX: PCL) shares will gain today with the its securing of Tullow Oil (LON: TLW) as a farm-in partner to its EL 0037 licence offshore Namibia.

Tullow, which has a market capitalisation of £9.4 billion (A$16 billion) is one of the most successful oil and gas explorers in Africa having opened up four new oil basins since 2006 in Uganda, Ghana, Kenya and French Guiana.

The UK major will be assigned a 65% operating interest in EL 0037 while Pancontinental will retain a free-carried 30% interest out of its current 95% interest.